Economics in the News – March 23-29

Economics impacts our lives every day. Below are some of the top storylines from this past week in economic news. 

• With the United States in lockdown to try to stop the spread of the coronavirus, many businesses in the economy are suffering. The New York Times writes on the value on human life in taking measures to prevent the spread of the coronavirus and saving lives vs. the cost to save our economy – jobs and businesses – to guard against a recession. Also, be sure to check out our blog, here.
  
  
• Last week, the United States government agreed to a stimulus plan to assist households and businesses throughout the United States. The plan will cost $2 trillion. The New York Times answers key questions regarding what the plan means for individuals.
  
  
• A record 3.3 million people filed for unemployment benefits the week of March 16-21. It was five times more than the previous record number of filers, 695,000 in 1982. [NPR]
  
  
• The coronavirus pandemic has impacted many lives throughout the world. Now, the Summer Olympic Games, originally scheduled to take place this summer in Japan, were postponed for one full calendar year. Japan had already invested $10 billion toward hosting the Games. It marks just the fourth time that the Olympics have not taken place and the first since 1944. [New York Times]